2023-04-24 14:03:13
Services inflation, persistent until now, will slow during the year when the situation on the labor markets deteriorates.
Banque de Luxembourg Investments presents its outlook for the second quarter of 2023.
Macroeconomic environment
- The turmoil in the banking sector heightens the risk of recession.
- Services inflation, persistent until now, will slow during the year when the situation on the labor markets deteriorates.
- Monetary tightening by central banks is coming to an end.
Financial markets
- Unless we think that the major technology stocks will regain their leadership on the stock market, the outperformance of the American market seems behind us.
- The structural trend towards a better allocation of corporate capital remains the main argument in favor of the Japanese market.
- The price of gold is approaching its 2020 all-time high.
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